Drilling requests and rig counts are hitting new highs in the state, reports WBRZ. The number of permit applications is quickly rising after a slow-down amid COVID closures in 2020, a trend that will likely continue.
Only about 26 rigs were operating in 2020; now it’s nearly twice that. “The industry saw a recovery in demand and an increase in the price, so they started drilling more,” says Patrick Courreges, communications director for the Louisiana Department of Natural Resources.
“As the prices recovered … they are able to start drilling again and make a living doing it,” Courreges says.
The war in Ukraine has not yet had any significant effect on drilling operations. “If you see effects from this, you are probably talking about a couple of months down the line before they really have a chance to respond,” Courreges said. Read the entire story.